GoDaddy (NYSE:GDDY) Reaches New 12-Month High – Time to Buy?

GoDaddy Inc. (NYSE:GDDY)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $185.34 and last traded at $185.16, with a volume of 41364 shares. The stock had previously closed at $183.13.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Barclays raised their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Piper Sandler lifted their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. B. Riley increased their target price on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Raymond James upped their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Trading Up 0.8 %

The business has a 50 day moving average of $161.46 and a two-hundred day moving average of $150.36. The firm has a market capitalization of $26.50 billion, a price-to-earnings ratio of 14.59 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 earnings per share. Equities analysts predict that GoDaddy Inc. will post 4.95 EPS for the current year.

Insider Transactions at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the transaction, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now directly owns 24,121 shares in the company, valued at $4,317,659. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,844 shares of company stock valued at $4,619,397 over the last three months. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On GoDaddy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of GoDaddy during the 3rd quarter valued at $27,000. ORG Wealth Partners LLC purchased a new stake in GoDaddy during the third quarter worth about $30,000. Transcendent Capital Group LLC bought a new stake in GoDaddy in the second quarter worth about $28,000. ORG Partners LLC bought a new stake in GoDaddy in the second quarter worth about $32,000. Finally, International Assets Investment Management LLC purchased a new position in GoDaddy in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.